Wisconsin Dodges the Bullet – Sales Statistics Show Wisconsin Markets in Relatively Good Shape

By
Real Estate Broker/Owner with Madeline Island Realty 50317-90

The Wisconsin Realtors' Association (WRA) has recently reported that home values for July through September of 2007 remained steady, even though sales slowed.  And home sales in Wisconsin were off 9.8 per cent for the same period, while sales dropped 13.7 per cent nationwide.

A few other encouraging statistics for Wisconsin home sellers:

  • In the third quarter of 2007, residential home values increased 2.4 per cent in Wisconsin.
  • Wisconsin's statewide foreclosure rate is close to one per one thousand households.  By contrast, the national foreclosure rate is one in 555.
  • Prices for lakeshore are stable or even increasing in some areas.  Wisconsin's recreational real estate market is a bright spot among other sales categories.

What's the core reason for all the positive news about Wisconsin real estate markets?  WRA economist David Clark suggests that Wisconsin home prices weren't rising as rapidly in recent years as they were in other markets, such as Florida and the desert southwest.  The market is also likely benefiting from Wisconsin's robust and diversified economy.

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Rainmaker
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Marchel Peterson
Results Realty - Spring, TX
Spring TX Real Estate E-Pro
Eric, I'm glad to hear that Wisconsin's economy is doing good.  I think our Texas economy is also, we just didn't really have a bubble to burst.  Unfortunatly the media has been playing the country's problems to the hilt and I have clients who thinks the sky is falling. I guess history will tell.
Dec 15, 2007 08:02 AM #1
Rainmaker
564,123
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -
Marchel, my personal approach to combating media misinformation about the real estate market is to post items like this one.  When the public reads articles that give factual market information instead of headlines, I think they will gradually realize that sensationalism isn't information.
Dec 16, 2007 06:55 AM #2
Ambassador
753,885
Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

This is some good news, Eric!  I'm glad to hear it.

Mike in Tucson

Jan 03, 2008 05:24 PM #3
Rainmaker
564,123
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -
Mike, for some reason, most of Wisconsin has avoided the problems experienced by other areas in this market.  There was probably less speculation in real estate in recent years than we saw in other parts of the country.
Jan 04, 2008 07:21 AM #4
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Eric Kodner

CRS, Madeline Island Realty, LaPointe, WI 54850 -
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